Sad News for PRISM
1/26/2009 12:29:16 PM
Last Friday's news about the demise of the PRISM program came as a shock to many of us. It appears that it's due to lack of funds, not surprising given the state of retail right now. But what strikes me as odd about this is that it's totally incongruous with the dramatic increase in both interest and funds in the marketing at retail space. In support of this point, AdWeek recently published an article about how, after years of being overlooked, this space is finally proving that it can de liver the goods. A few stats from it:
* According to a study by the Grocery Manufacturers Assn. and Deloitte Consulting, the number of manufacturers and retailers that have significant shopper marketing organizations of more than 20 people has jumped from 29 percent in 2007 to 60 percent in 2008.
* The study also found that over the next three years, in-store marketing activity will grow at a higher rate than any other marketing tactic.
* A Booz & Co. survey of consumer packaged goods marketing executives found that 95 percent plan to either maintain or increase investments in retail store media.
So, one would wonder if there's more to the story than just a lack of funds. I'm not sure, but I do know that I hope that other retail-focused measurement efforts continue to get the support necessary to prove the viability of this rich store medium. Without them, it will be hard to ensure that customers are welcoming our store marketing efforts (or not!) And if we can't ensure this important point, we'll be right where TV is--slowly being pushed aside for more targeted, measured media venues.